$BTC Bitcoin Breakdown: What's Next?

After the recent breakdown from the ascending triangle, Bitcoin is steadily moving downward. This pattern suggests a likely drop towards the $56,000 support area.

Strategy:

Plan to go long between $55,000-$56,000, targeting $58,000-$59,000.

Despite the drop, the long-term outlook remains bullish as the market may be pulling back to gather liquidity ahead of the expected Federal Reserve rate cut in September.

Bearish Scenario:

If Trump, a known Bitcoin supporter, loses the upcoming election, expect a drop below $40,000.

Additionally, if the TON founder faces liquidity issues, Bitcoin could fall below $50,000.

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